Outsourcing & Vendor Management

Outsourcing is a key driver of meeting corporate objectives and often the biggest challenge is not finding a provider, it¡¯s finding the right fit provider. ILIKOS leverages close to 15 years of experience and collaborations across North America, Europe and Asia to mitigate risk by proposing providers well aligned with your needs in terms of: operational structure, expertise and business model. Our Clients benefit from our understanding of all phases of development, long term relationships, clear communication, competitive rates and better contracting terms.

As a cautious and financially wise company, what are the individual tasks, specific areas, or business processes that you should outsource? Which ones can you retain internally without compromising quality and compliance? Should you pursue a full service or fragmented outsourcing model? What advantages should be considered in potentially utilizing a specialty CRO partner?

 

Outsourcing strategy

ILIKOS provides You with guidance in order to establish an outsourcing model aligned with your corporate structure, financial resources, and development objectives. A strong outsourcing strategy starts by asking the right questions:

- What are the short and long-term objectives?

- Have all the outsourcing options been identified along with the available budget?

- Is a project-based approach preferable vs a volume-based commitment?

- Are the outsourcing risks proactively identified?

- Have the right evaluation and communication channels been established?

Vendor qualification, selection & management

Your focus, as a start-up or emerging lifescience company, is on progressing your product¡¯s potential from the development phase to positive outcomes for Patients. In dealing with numerous service providers it becomes easy to lose sight of priorities and get caught up in difficult to understand industry linguistics, proposal and budget formats, contracting processes and unfavorable terms.

ILIKOS can help you identify and implement a strategy to:

- Effectively qualify, evaluate and select appropriate providers for your needs, phase of development and therapeutic indication.

- Establish robust vendor management processes inclusive of corporate information, performance metrics, SOPs/Policies and financial information.

- Develop strong relationships resulting in healthy, long-term partnerships.

Contracting Strategy

Your short and long-term development objectives, the size of your project, its duration, phase of development and the ability of a specific provider to meet one or multiple needs are key factors associated to electing the right fit contracting strategy.

Working with ILIKOS will allow you to approach these important interactions with the right understanding of industry terms, risks, contracting models, advantages and disadvantages so that you may establish fair terms and maximize the value of your commitment.

On the basis of our expertise, our Customers may achieve savings of up to 30% while securing better timelines and terms.